It's been very common lately. Most (not all have been lower) last summer started this wackiness. I have seen from 1k lower to just enough to pay off the last loan and the new loan was 0.00! Since you are doing great and paying off fast a good handful of people on here now said their next offer went up. There is no guarantee of course just going by numbers is all. The more users post the more or easier to see a trend. A few will jump on and give their experience for the last few loans. They are great for sharing. Congratulations on any offer though. It's finally looking better.
Unfortunately, you are correct! Without the money going through Square to pay off a percentage in fees to cover the loan it appears to the algorithm that you do 10% of your sales only through Square. I see you aren't in the United States. I know each country is a tad different with how things operate and offer different products. Have you been asked to link your bank? Also, I know 1 and im sure there are multiple ones like Stripe that do your billing, inventory, booking, etc. They will directly pay to your bank but it's not instance at first. If you use Square to run all their cards and invoices as your POS it shows you and Square that all your invoices were and they are run through them. Your customers can still use their normal way of paying (except 1-2) here but that could be different there. I guess it's just how much you want to be offered loans and more of a regular basis or not. I don't know how much you make or if they offer at a certain dollar point a business Representative to you and he or she deals directly with you and I have a great one. He calls me often and no issues going on etc. I have called him and always picks up when I have terminals crash or cash register boom locked up. Tech support called in 10 minutes. It sounds like all this would help you. Good luck with all of it. I will tag a mod here and see if they can get some help with the account over there. I apologize for this being so long but I think you just need to get to the right person to help you out the best.
Thank you for sharing and we do get a few every month looking to see how loans are going here. I would love it if you could keep us posted on how the company Youlend works out for you. Others asked about Pipe and reported back the same thing as you. I would love to be able to give them a good bridge reference if that's ok. Hopefully, they start picking up over there. I know the economy on the whole isn't good but how is business going? Are you seeing and feeling the increase in just about everything? I still have a few friends in England after 8 years stationed at RAF Upper Heyford. One is still in the military and the other finished his time and now working 2 jobs nonstop to keep afloat. Good luck to you and I hope that the company helps till you get an offer from Square.
I agree 100% definitely caught up in the system somewhere. Most I've seen is over an email they didn't see asking for info like an EIN a bill in the business name or a bank statement in the business name or associated with it type thing. Unfortunately, if you didn't get it or thought it was junk and deleted it you don't know! You will have to do some hard digging to get to that human and you are right the call center is just that a call center! They have limited access to your information and here comes the script. It is getting to the right rep who will listen and patch you through. Anymore it's like every business I have to call smh. No answers, can't help you and rushed off the phone. I hang up and wait 30 minutes call the next one and repeat until someone will listen to me. Blue Cross and I have a love/hate relationship 😆 we go rounds now about every 4 months now.
I understand your frustration I really do! I see it every day and it's rough. I'm 12 years going on 13 years in November. This started scaling back last summer and I don't work for Square at all! I watched the trends and then started digging around and helping others with just information about trends. I jumped on every public forum like this one and Reddit that offered loans and all said the exact same no joke. Half were switching to square they were done with Clover or whatever pos they were using. The new section in the eligibility page is key right now. Unfortunately, the economy isn't great, we have an unstable country and world right currently. The big one right now and I am not talking politics or going there but we have an election and it will determine 2 different types of the way this country will go. Lenders are tightened up and have been. Unfortunately, we feel it as well. Best of luck to you truly and hopefully soon an offer and get this rolling again!
It's been about a year and a half since the norm became not-so-normal. I'm a firm believer in you and only you know what is best for your business but it's not just square. Most lenders are holding tight still lending but not what we are used to. I don't work for Square but I do jump in here and lend some advice or encouragement. I also jump on other sites like ours and read the reviews and they are all asking the same thing. Reddit is full of questions as well over loans. Good luck to you and I hope you get an offer soon or make the best decision for your business!
That's the million-dollar question! There have been systems going down and October 26th was a big one! It stopped processing, cash registers, and everything that helped daily functions like QuickBooks to transfer sales. Just about everyone on here was lagging in updates. It's getting back to normal slowly but a few are still a couple of hours behind. Now, part 2 myself personal 2x in 12 years with Square, and since the loan metrics began I ghosted so to say 1 or early day 2 where I couldn't see my metrics or loan circle. 2 pm updated like normal, and that night I received an offer. Coincidentally or was there something going on in the background??? I do not know. I have heard others state the same, yep, the offer came in, and others nothing but finally updated! Good luck and definitely keep us posted on this!
